Squeeze Greece or find funds yourselves, euro chief warns

A top EU bailout official warned the eurozone Thursday that it must order Greece to make fresh budget cuts or raise more taxes, or eurozone members will have to cough up more cash themselves.As a new Greek government takes office, the country's second bailout which was stuck in limbo as voters challenged European Union and International Monetary Fund austerity measures in two elections, is "totally off track, months behind schedule," Thomas Wieser told AFP.

Athens (AFP) - Greece's PM Alexis Tsipras warned Saturday that a high-stakes eurogroup meeting to resolve the country's bailout drama was going to be tricky, despite progress made in negotiations with the EU.

Brussels (AFP) - Greek Prime Minister Alexis Tsipras was expected to meet with Angela Merkel in Brussels Wednesday after the EU's top official for the euro said a breakthrough bailout deal was "days" away.

KRUEN, Germany — The European Union’s exasperation with Greece burst into the open on Sunday when its chief executive rebuked leftist Prime Minister Alexis Tsipras and warned that time was running out to conclude a debt deal to avert a damaging Greek default.
In unusually sharp terms, European Commission President Jean-Claude Juncker accused Tsipras of distorting proposals by international creditors for a cash-for-reform agreement and of dragging his feet in putting forward alternative proposals.

In the wake of the Greek election, one thing is clear: No party or coalition of parties is in control. More elections are coming, but will the results be any different?
In the meantime, the next disbursement of Greece bailout funds is at risk, and Greece faces being unable to meet pension, salary and debt commitments next month.
Please consider Greece braces for a repeat of elections

BRUSSELS: Greece and its international creditors remained at loggerheads on Thursday over reform measures that Athens must introduce to unlock billions of euros in loans and prevent a likely bankruptcy of the country. With talks in Brussels at an impasse, leaders from the International Monetary Fund, the European Central Bank and the European Commission raised the stakes by putting forward their joint position on the kind of reforms they would accept to offer Greece a financial lifeline.

Brussels (AFP) - Greece goes into talks with its eurozone partners on Monday demanding changes to a massive international bailout which could lead to its exit from the single currency bloc and into the unknown.

Lisbon (AFP) - One year after gaining freedom from the control of its international creditors, Portugal has succeeded in dramatically improving its economy, though most people are still struggling under the stringent austerity measures.

THIS is what insolvency looks like:Greece's budget deficit in 2010 was 10.5% of gross domestic product, significantly larger than forecast by either the Greek government or the European Union authorities, Eurostat, the EU's official statistics agency, said Tuesday.